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This report provides a unique worldwide reference source on the cost of both renewable and conventional power generating technologies, based on data from real projects. The LCOE-analysis shows that the cost range across the renewable energy technologies is wide, considerably wider compared with conventional energies. The most mature and widely deployed clean energy technologies such as hydro and onshore wind are today close to reaching parity with traditional sources, while emerging technologies such as marine tidal and wave are still at the early phases of cost discovery.For technologies that are widely deployed across the globe, such as onshore wind, crystalline silicon PV and hydropower, there are significant cost variations between the regions. The LCOEs in Western Europe, the US and most notably Japan are typically several times larger than those in China and India due to limited access to cheap components and higher O&M costs.Many of the other technologies are currently only deployed in specific regions, depending on the characteristics of the technology and local policy support. However in line with the continued growth in clean energy investment, the geographic spread of the technologies is likely to increase in the future into countries such as Brazil, South Africa and South Korea.As noted in the Introduction, the future of this project will depend on the WEC Member Committees and their affiliates providing the best data available, particularly for fossil fuel and nuclear technologies.It is believed that the cost related information provided in this report will deliver powerful information for decision-makers in the energy sector and a true database for policy-makers. To enlarge the scope and power of further reports, your company is invited to join this brand new and unique WEC project.

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The International Renewable Energy Agency (IRENA) is an intergovernmental organisation that supports countries in their transition to a sustainable energy future, and serves as the principal platform for international cooperation, a centre of excellence, and a repository of policy, technology, resource and financial knowledge on renewable energy. IRENA promotes the widespread adoption and sustainable use of all forms of renewable energy, including bioenergy, geothermal, hydropower, ocean, solar and wind energy, in the pursuit of sustainable development, energy access, energy security and low-carbon economic growth and prosperity.